Support & Resistance

Okaylah, let me clarify a little bit how I view support and resistance since there were some comments on it.

Actually, I do not really look at vertical support and resistance. What I look at is EMA support and resistance. This will give me the confidence to either stay with the trend or get out. The best one is to look at weekly EMA, but this requires a strong psychology to stand deep correction (I'm not quite good at this).

Next I look at the curve of the EMA, the best curve (which I intepret it as strong trending) is when all of the different time period moves up from a single point. The tighter the point, the better. I learned this technique from Daryl Guppy. So, even if the singular point is near the vertical resistance, I still go in. However, I will not go in if it is under the weekly trendline.

I'm not doing well this pass month because I was too eager to place a trade. This is a discipline problem. To add salt to my wound, the movement of stocks are too fast. They go up very fast, they go down very fast. So I have problem managing my position. I am back to my old ways now, that is to wait for the perfect set up before entering. Concerning the method to manage my position, I'm still searching.